Indian rice continues to hold dominance in the overseas markets
Swarna & 100% broken white rice continues to be in demand from Southeast Asian importers.
Indian parboiled rice exports continued to have a bearish tone for the previous week. Market players expect the same over the next two weeks as fresh arrivals continue in most markets. Rice exporters have said that the preference between vessel and container is no longer a choice as both methods of shipment are close in terms of freight prices. Though vessels are still the first choice as the fixed schedule is obtainable in contrast to container shipment. Indian white rice exports continued to be firm for short outlooks as good rice demand is witnessed across all white rice variants.
Nepal imported Rs39 Bn value of rice primarily from the top rice exporting country India from Aug’20 to Apr’21. This was 64% higher than the same period the previous year. One rice trader said that the growth of rice imports is because Indian rice prices are low-cost than rice grown from the country.
Thailand's 5 percent broken rice export prices decreased to $454-$475 per MTS from the previous week’s $465-$473 per MTS. Rice exporters mentioned an absence of international rice demand, even though there was no problem with the rice supply. As per the data from Thailand customs, the country exported 1.13 MM MTS of rice from Jan’21 to Mar’21, a 23 percent decrease from the same period in 2020, estimated value at $695 MM.
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